{"id":5090,"date":"2020-10-18T06:48:03","date_gmt":"2020-10-18T06:48:03","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=446838"},"modified":"2020-10-18T06:48:03","modified_gmt":"2020-10-18T06:48:03","slug":"ethereum-struggling-below-375-but-100-sma-can-trigger-a-fresh-rally","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/ethereum-struggling-below-375-but-100-sma-can-trigger-a-fresh-rally\/","title":{"rendered":"Ethereum Struggling Below $375, But 100 SMA Can Trigger A Fresh Rally"},"content":{"rendered":"<p><em>Ethereum started a steady decline from the $395 swing high against the US Dollar. ETH price is now trading just above the main $360 support and the 100 SMA (H4).<\/em><\/p>\n<ul>\n<li>ETH price is showing a few bearish signs below $375 and $380 against the US Dollar.<\/li>\n<li>The price is still holding the $365 support and the 100 simple moving average (4-hours).<\/li>\n<li>There is a major declining channel forming with resistance near $372 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to rally above $375 as long as it is trading above the 100 SMA (H4).<\/li>\n<\/ul>\n<h2>Ethereum Price is Facing Hurdles<\/h2>\n<p>After forming a major top near the $395 level, Ethereum started a steady decline against the US Dollar. ETH price broke the $380 and $375 support levels to move into a short-term bearish zone.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-at-risk-of-a-sharp-decline-365\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ether price tested the $360 level<\/a> and it remained well bid above the 100 simple moving average (4-hours). A low is formed near $360 and the price is currently correcting higher. It is testing the $368 resistance level. The stated resistance is close to the 23.6% Fib retracement level of the key decline from the $395 high to $360 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-446839\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14.png\" alt=\"Ethereum Price\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14.png 1828w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-460x218.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-860x408.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-768x365.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-1536x729.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-750x356.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Ethereum-14-1140x541.png 1140w\" sizes=\"(max-width: 1828px) 100vw, 1828px\"\/><\/a><\/p>\n<p>More importantly, there is a major declining channel forming with resistance near $372 on the 4-hours chart of ETH\/USD. Above the channel resistance, the bulls might face hurdles near the $375 level.<\/p>\n<p>The next major resistance is near the $378 level or the 50% Fib retracement level of the key decline from the $395 high to $360 low. A clear break above the channel resistance and then a follow up move above the $378 level could open the doors for a <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-looks-ready-for-another-leg-higher\/\" target=\"_blank\" rel=\"noopener noreferrer\">fresh increase<\/a>. The next stop for the bulls could be near the $395 and $400 resistance levels.<\/p>\n<h2>Downside Break in Ether (ETH)?<\/h2>\n<p>If Ethereum fails to clear the $372 and $375 resistance levels, it might continue to move down. The 100 simple moving average (4-hours) at $366 holds a lot of importance.<\/p>\n<p>A proper close below the 100 SMA (H4), followed by a break below the $365 support zone could spark a sharp decline. The next major support on the downside is near the $355 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD &ndash; The MACD for ETH\/USD is slowly moving back into the bullish zone.<\/p>\n<p>4 hours RSI &ndash; The RSI for ETH\/USD is now just below the 50 level.<\/p>\n<p>Major Support Level &ndash; $365<\/p>\n<p>Major Resistance Level &ndash; $375<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a steady decline from the $395 swing high against the US Dollar. ETH price is now trading just above&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[283,73,111,113],"class_list":["post-5090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5090"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=5090"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/5091"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=5090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=5090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=5090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}